[Code of Federal Regulations]
[Title 24, Volume 1]
[Revised as of April 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 24CFR92.63]

[Page 571-572]
 
                 TITLE 24--HOUSING AND URBAN DEVELOPMENT
 
PART 92--HOME INVESTMENT PARTNERSHIPS PROGRAM--Table of Contents
 
                      Subpart B--Allocation Formula
 
Sec. 92.63  Amendments to program description.

    An insular area must submit to HUD for approval any substantial 
change in its HUD-approved program description that it makes and must 
document any other changes in its file. A substantial change involves a 
change in the guidelines for resale or recapture (Sec. 92.61(b)(4)), 
other forms of investment

[[Page 572]]

(Sec. 92.61(b)(6)), minority and women business outreach program 
(Sec. 92.61(b)(7)) or refinancing (Sec. 92.61(b)(8)); or a change in the 
tenure type of the project or activities; or a funding increase to a 
project or activity of $100,000 or 50% (whichever is greater). The HUD 
Field Office will notify the insular area if its program description, as 
amended, does not permit determinations to be made under Sec. 92.61 
(b)(4), (b)(6), (b)(7), or (b)(8), or if the level of proposed projects 
or eligible activities is not within the management capability 
demonstrated by past performance in housing and community development 
programs, within 30 days of receipt. The insular area will have a 
reasonable period of time, agreed upon mutually, to submit the necessary 
supporting information to revise the proposed projects or activities in 
its program description.